Report of Foreign Issuer (6-k)
January 27 2015 - 2:24PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of January 2015
Commission File Number 001-35704
Seadrill
Partners LLC
(Exact name of Registrant as specified in its Charter)
2nd Floor, Building 11
Chiswick Business Park
566 Chiswick High Road
London, W4 5YS
United
Kingdom
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F x Form 40-F ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101
(b)(1). Yes ¨ No x
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101
(b)(7). Yes ¨ No x
INFORMATION CONTAINED IN THIS FORM 6-K REPORT
Attached as Exhibit 99.1 is a copy of a press release of Seadrill Partners LLC dated January 27, 2015.
EXHIBITS
The following exhibits are filed as part of
this Report:
|
|
|
99.1 |
|
Press Release of Seadrill Partners LLC dated January 27, 2015 |
1
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.
|
|
|
|
|
|
|
|
|
|
|
|
|
SEADRILL PARTNERS LLC |
|
|
|
|
Date: January 27, 2015 |
|
|
|
By: |
|
/s/ Graham Robjohns |
|
|
|
|
|
|
Graham Robjohns |
|
|
|
|
|
|
Chief Executive Officer |
2
Exhibit 99.1
SDLP - Seadrill Partners LLC Fourth Quarter 2014 Cash Distribution
London, United Kingdom, January 27, 2015 - Seadrill Partners LLC (NYSE: SDLP) (Seadrill Partners or the Company) announced
today that its board of directors has declared a quarterly cash distribution with respect to the quarter ended December 31, 2014 of $0.5675 per unit, which represents an increase of $0.015 per unit, or approximately 3% from the third quarter of
2014.
This cash distribution will be paid on or about February 13, 2015 to all unitholders of record as of the close of business on February 6, 2015.
In November, 2014, in connection with the Companys announcement of the acquisition of the West Vela, the Company stated that management intended to
recommend to the board a quarterly distribution increase of between $0.035 and $0.040 per unit, but that any such increase would be conditioned upon, among other things, approval by the Companys board and the absence of any material adverse
developments or potentially attractive opportunities that would make such an increase inadvisable. Since November, the Companys market outlook has deteriorated. Seadrill Partners rigs all have long term contracts none of which expire
before 2017, with the exception of the West Vencedor which expires in March 2015. Contract discussions for the West Vencedor have not progressed at the desired pace and management is no longer confident that an agreement on an extension can be
reached. Seadrill Partners is exploring all alternative employment opportunities for the West Vencedor.
Todays distribution increase of $0.015
is reflective of the commercial discussions for the West Vencedor and the general deterioration in the offshore drilling market.
The Company will
continue to evaluate acquisitions, distributions and distribution coverage to manage through near term industry challenges in the offshore drilling industry. While Seadrill Partners strategy is to grow distributions via accretive acquisitions
these acquisitions will also be evaluated with the goals of building distribution coverage and mitigating contract rollover risk.
FORWARD LOOKING
STATEMENTS
This news release includes forward looking statements. Such statements are generally not historical in nature, and specifically include
statements about the Companys plans, strategies, business prospects, changes and trends in its business and the markets in which it operates. In particular, statements regarding projected changes in the Companys cash distributions, the
Companys anticipated growth strategies and its ability to re-contract its drilling rigs are considered forward looking statements. These statements are made based upon managements current plans, expectations, assumptions and beliefs
concerning future events impacting the Company and therefore involve a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied in the forward looking statements, which speak
only as of the date of this news release. Important factors that could cause actual results to differ materially from those in the forward looking statements include, but are not limited to the performance of the drilling rigs in the Companys
fleet; delay in payment or disputes with customers; fluctuations in the international price of oil; changes in governmental regulations that affect the Company or the operations of the Companys fleet; increased competition in the offshore
drilling industry; hire rates and factors affecting supply and demand for drilling rigs; the financial condition of the Companys existing or future customers; and general economic, political and business conditions globally. Consequently, no
forward looking statement can be guaranteed. When considering these forward looking statements, you should keep in mind the risks described from time to time in the Companys filings with the SEC, including its Annual Report on Form 20-F (File
No. 001-35704).
The Company undertakes no obligation to update any forward looking statements to reflect events or circumstances after the date on which
such statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible for us to predict all of these factors. Further, the Company cannot assess the impact of each such factor on
its business or the extent to which any factor, or combination of factors, may cause actual results to be materially different from those contained in any forward looking statement.
Seadrill Partners (NYSE:SDLP)
Historical Stock Chart
From May 2024 to Jun 2024
Seadrill Partners (NYSE:SDLP)
Historical Stock Chart
From Jun 2023 to Jun 2024